Salary Subsidy for Employment Retention - August 2020 Application
Tax Newsflash Aruba
The Social Insurance Bank of Aruba (hereinafter: SVB) issued a notification that they are pending approval from the Government of Aruba to start the salary subsidy application process for the month of August 2020. In this newsflash we will provide you with a summary on the process of this salary subsidy application.
Application process salary subsidy
The conditions and requirements for salary subsidy application remained the same since the application process in July 2020.
SVB will make a form available for the application for the salary subsidy on the digital portal MiSVb of the employer. On this form the employer must fill out the percentage (%) of reduction of the scope of work for each employee. The reduction of the scope of work percentage can only be between 0% and 40%.
The form must be signed by all employees of the company and the employer for the wage subsidy application to be processed. After the form is signed by the employees and employer, the employer must proceed and upload this form to the digital portal MiSVb of the employer. For the employer it is important to verify that all information has been completed correctly and completely before uploading to its digital portal MiSVb.
SVB indicates that if the application form is not completed correctly and completely and or not uploaded to the digital portal of the employer, the application for the salary subsidy will NOT be approved.
The application form can only be submitted by uploading on the digital portal MiSVb of the employer. SVB will not accept application forms via e-mail for the month August 2020.
Our advice to you is to remain pending for a notification from SVB with instructions to submit the salary subsidy application for the month of August 2020. We will update you as soon as we have more information.
We trust that you will find this newsflash helpful. Let us know if you have questions and if you would like further information.
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